Australian Vanadium (ASX:AVL) said the Western Australian Government's revised royalty framework for vanadium products provides more certainty on the fiscal treatment of the products and downstream processing outputs, according to a Thursday filing with the Australian bourse.

A flat royalty rate of 2.5% will apply to vanadium products from Feb. 4 under the revised framework, the filing said.

The state government also confirmed the continued royalty-free treatment of vanadium electrolyte production, per the filing.